WillScot (NASDAQ:WSC) Given New $29.00 Price Target at Morgan Stanley

WillScot (NASDAQ:WSC) had its price target increased by Morgan Stanley from $23.00 to $29.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 8.57% from the company’s current price.

Several other brokerages also recently weighed in on WSC. Wall Street Zen upgraded WillScot from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “sell (d+)” rating on shares of WillScot in a report on Wednesday, January 21st. Barclays upped their price target on WillScot from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, March 6th. UBS Group assumed coverage on WillScot in a report on Wednesday, April 8th. They issued a “neutral” rating and a $19.00 price objective on the stock. Finally, Robert W. Baird set a $26.00 price objective on WillScot in a report on Friday. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.63.

WillScot Price Performance

Shares of NASDAQ WSC opened at $26.71 on Tuesday. The stock’s 50-day moving average is $19.96 and its two-hundred day moving average is $20.27. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.79 and a quick ratio of 0.72. WillScot has a 1-year low of $14.91 and a 1-year high of $31.88. The company has a market cap of $4.83 billion, a price-to-earnings ratio of -70.29, a price-to-earnings-growth ratio of 2.05 and a beta of 1.31.

WillScot (NASDAQ:WSC) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. WillScot had a positive return on equity of 20.65% and a negative net margin of 2.99%.The company had revenue of $548.63 million for the quarter, compared to the consensus estimate of $518.17 million. During the same quarter in the prior year, the business earned $0.26 EPS. WillScot’s revenue was down 2.0% on a year-over-year basis. Analysts forecast that WillScot will post 1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WSC. T. Rowe Price Investment Management Inc. increased its holdings in shares of WillScot by 334.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,522,450 shares of the company’s stock valued at $103,988,000 after acquiring an additional 4,250,951 shares during the last quarter. Turtle Creek Asset Management Inc. boosted its position in shares of WillScot by 71.7% in the 3rd quarter. Turtle Creek Asset Management Inc. now owns 8,730,347 shares of the company’s stock valued at $184,298,000 after purchasing an additional 3,645,350 shares during the period. Primecap Management Co. CA boosted its position in shares of WillScot by 210.9% in the 4th quarter. Primecap Management Co. CA now owns 4,267,400 shares of the company’s stock valued at $80,355,000 after purchasing an additional 2,894,900 shares during the period. Norges Bank acquired a new stake in shares of WillScot in the 4th quarter valued at about $40,925,000. Finally, Coliseum Capital Management LLC boosted its position in shares of WillScot by 70.7% in the 4th quarter. Coliseum Capital Management LLC now owns 5,111,602 shares of the company’s stock valued at $96,251,000 after purchasing an additional 2,117,247 shares during the period. Hedge funds and other institutional investors own 95.81% of the company’s stock.

WillScot Company Profile

WillScot (NASDAQ: WSC) is a leading North American provider of modular space and portable storage solutions. The company designs, manufactures, leases and sells temporary and permanent modular buildings to serve sectors such as education, healthcare, construction, industrial and government. Its modular space offerings range from single‐unit office trailers and classrooms to complex multi‐unit configurations tailored to diverse project requirements.

In addition to modular structures, WillScot offers a broad portfolio of portable storage containers and related services, including site logistics, customization, delivery and installation.